Vancouver, Canada: Radius Gold Inc. (TSX-V: RDU) would like to announce a correction to its press releases dated August 27, 2018 and September 27, 2018 concerning its 100% owned Coyote hot-springs epithermal gold project near Elko, Nevada. No change has occurred at Coyote Project. Radius management compared the Coyote Project to Western Exploration’s recently discovered Gravel Creek Project, located 45km North of Coyote and would like to correct data associated with the project comparison.
Coyote Project Comparison
Information on the Gravel Creek Gold-Silver Deposit was published in New Concepts and Discoveries: Geological Society of Nevada 2015 Symposium, O.D Christensen and J.G. Cleary. Geology and Discovery History of the Gravel Creek Silver-Gold Deposit, Elko County, Nevada. From that paper Radius published drill hole assays where silver assays were mistakenly published as gold assays. Radius management apologizes for this error. The corrected significant gold assays from the Gravel Creek Project as published in New Concepts and Discoveries: Geological Society of Nevada 2015 Symposium are:
|Hole||From (m)||To (m)||Length (m)||Au (ppm)|
Radius recently received drill permits for the Coyote Project and is planning a drill program that will target deeply penetrating resistive structures identified by CSAMT geophysical survey, co-incident with rock and soil geochemical gold-antimony-arsenic-mercury anomalies within a surficial sinter hot spring environment.
Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Radius’s Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Smith participated in the reported Coyote Project programs and prepared and approved the technical information contained in this news release.
Radius Gold Inc.
Radius has a portfolio of projects located primarily in the United States and Mexico which it continues to advance, utilizing partnerships where appropriate in order to retain the Company’s strong treasury. At the same time, management is seeking out additional investment and project acquisition opportunities across the globe.
ON BEHALF OF THE BOARD
President and CEO
Contact: Simon Ridgway
200 Burrard Street, Suite 650
Vancouver, BC V6C 3L6
Tel: 604-801-5432; Toll free 1-888-627-9378; Fax: 604-662-8829
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements which include, without limitation, statements about the possible acquisition by Pan American of an interest in the Amalia Project; the exploration plans for the Amalia Project Bald Peak and Coyote Project; the Company’s business strategy, plans and outlook; the merit of the Company’s investments and properties; timelines; the future financial performance of the Company; expenditures; approvals and other matters. Often, but not always, these forward looking statements can be identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results,performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, the plans for exploring Coyote Project; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the exploration activities at the Coyote Project will proceed as planned; that the Company’s activities will be in accordance with its public statements and stated goals; that all required approvals will be obtained; that there will be no material adverse change affecting the Company or its investments or properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.